Hong Kong is set to overtake Switzerland as the world’s leading destination for wealth management by 2027-28, according to government officials citing findings from the World National Center in Asia. Joseph Chan Ho-lim, the undersecretary for financial services and the treasury, emphasized that despite the city’s strengths, it cannot afford complacency amid intense global competition. The number of single-family offices in Asia-Pacific is projected to surge by 40% to 3,200 by 2030, outpacing all other regions, according to Deloitte. Hong Kong already hosts over 2,700 single-family offices, with more than half managing wealth exceeding USD50m. Family offices are increasingly collaborating with professional teams and leveraging data science to develop cohesive investment strategies and explore new opportunities.